The SEC Can’t Transform Itself Into a Climate-Change Enforcer
One of many Federal Agencies trying to transform itself.
The SEC Can’t Transform Itself Into a Climate-Change Enforcer
It should junk its proposed disclosure rule, which is clearly unconstitutional as per West Virginia v. EPA.
By Bernard S. Sharfman............. and James R. Copland.............
“The Supreme Court’s June decision in West Virginia v. Environmental Protection Agency was a shot across the bow of the administrative state. The decision implicates many executive and indepen-dent agencies’ rulemakings, but perhaps none more so than the Securities and Exchange Commission’s proposed climate-disclosure rule. The proposal would convert the federal securities regulator into a greenhouse-gas enforcer looking over the shoulders of exchange-listed companies’ directors. Much like the EPA regulation the justices struck down, the new SEC proposal would exceed the authority Congress granted to the agency. If the SEC were wise, it would rethink its rule, lest it face a similar fate in court and see its rulemaking effort thrown into the regulatory waste bin.”….
The SEC Can’t Transform Itself Into a Climate-Change Enforcer by @s_sharfman and @JamesRCopland https://www.wsj.com/articles/securities-exchange-sec-climate-change-esg-major-questions-doctrine-west-virginia-v-epa-supreme-court-disclosure-rule-11663178488
NO SURPRISE HERE..!!